SME finance directors want challenge from their accountants

THE LEVEL OF CHALLENGE exhibited by accountants was rated the most important factor when choosing a firm, according to a survey.

The survey of more than 100 SME finance directors carried out by SKS Business Services, a firm of chartered accountants, found that 87% of respondents said what they wanted most was to be challenged.

Price was also a key factor, with only 53% of finance directors saying they would pay higher fees for better services. However, 70% of directors said they expect to get additional advice on matters such as tax, budgeting and profitability as part of the service.

“Smaller companies have the same need to drive efficiency as the ‘BPs’ of this world.

It would seem that many companies are operating their accounting/finance function using traditional methods and expecting their accountants to come up with radical or magical solutions,” said Sanjay Swarup, Director of SKS Business Services.

For SMEs, trust is very important, although it is not necessarily based on face-to-face contact. Only 50% of SME finance directors said that meeting with a senior accounting partner was of high or very high importance.

A large number of SMEs feel neglected or not important enough to get the proper attention they fell deserve from their accountants. “We find we are neglected by our accountants” or “We are not important enough for them,” were just a few of the quotes prvidied fro the survey respondents.